QLD Just moved back to Aus after 6 years - what has happened to Brisbane?!

Discussion in 'Where to Buy' started by smurfo, 10th Sep, 2017.

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  1. smurfo

    smurfo New Member

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    Hi everyone. First post...

    I've been living in Amsterdam for the past 6 years and have just moved to Brisbane, where I'll start a job at UQ. When I left Australia, property seemed to be going along nicely in all the major cities, but having returned and trawled through the Brisbane threads, I'm confused! Should I buy my first home, or rent out the 'storm'?

    I had planned to buy a house/townhouse/apartment in the West End - Greenslopes or St Lucia-Toowong areas for up to $750k to make use of my first home owner's grant. But I got the feeling from the threads that many posters think the townhouse/apartment market will slide into 2018-19. I'm also not sure if the fhbg is something I should be giving much weight to. I've been away from Brisbane for 15 years and overseas for the last 6, so I'm feeling especially green about the market. Would love to hear from advice!
     
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  2. Sackie

    Sackie Well-Known Member

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    You commented " should i buy my first home or rent out the storm"?. My opinion, i don't see house values in those areas coming down anytime soon and only see them rising in time

    If your looking to buy a ppor in Greenslopes with a budget of 750k you have options i think.

    You mentioned townhouse, unit or house. Personally I'd go for a house on a larger block in greenslopes, something with good bones and in need of a cosmetic upgrade. Long term as a ppor I think its a good buy and area to live. With the reno and some time it will break the 1mil barrier.

    .
     
    Last edited: 10th Sep, 2017
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  3. Angel

    Angel Well-Known Member

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    How easy is it to get to UQ from Greenslopes?
     
  4. willair

    willair Well-Known Member Premium Member

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    You only have to open any Qld based newspaper and if you read about property in Brisbane most media opinions think it's unstable and in for turbulent times and limited and expensive and there is a huge gulf between the ones that write about property who sometimes don't even own any property at all..
    The bottom line ,though,West -End with all the vacant multi level unit blocks in the pipeline and simple 70 year old small block houses 750k will not let you into that market in houses-river-front units maybe..
    750K would be in the range for Yeronga for houses and you could walk or as you spent 6 years in Amsterdam cycle too UQ within 10 minutes-Annerley-Dutton-Park would also be in that range on a small 400sqm older style house.imho..
    I was in Amsterdam recently for 2 weeks staying stayed at NDSM Wharf area one of the most stunning free thinking places in the world once you can learn to walk past the coffee shops like "Bulldog"just use your experience from there to see what will happen in Brisbane.
     
    Last edited: 10th Sep, 2017
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  5. smurfo

    smurfo New Member

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    You guys guess it: Amsterdam life has rubbed off and I'm definitely planning on cycling to work every day. Yeronga is also on my radar, but every time I find a place in my range, the flood maps come up dark blue! Shame the dutch aren't here to sort it out :)
     
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  6. hammer

    hammer Well-Known Member

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    Hey, at least you are looking at the flood maps! Lots of people forget about that..
     
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  7. vbplease

    vbplease Well-Known Member

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    There's a bridge from dutton park to uq.. it's a pretty short bike ride from
    greenslopes.

    A $750k house in stones corner would be my pick
     
  8. Sackie

    Sackie Well-Known Member

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  9. JDP1

    JDP1 Well-Known Member

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    You should be fine I'm all areas you mentioned fir the Money. Watch out for apartments due to oversupply in cbd. House or townhouse should be fine.
    Also watch out for potential flooding - check flood maps.
    The areas you mentioned have all moved in the time you have been gone, but still cheap compared to its peers of Sydney and Melbourne and perhaps Perth as well.
    Plus, all the areas you mentioned have significantly more to run in this cycle. So now would be a good time to buy.
    Regarding what's changed in 6 years... Essentially it was a country town back then and whilst still a small town, it's grown up and developed significantly since then...and will continue for the foreseeable future, adding substantial cg to asset values.
     
    Last edited: 10th Sep, 2017
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  10. Damz

    Damz Active Member

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    Am in a similar situation as @smurfo for preferred suburbs for first home, my challenge is that am looking at brick homes only and this limits my options, finding a well-maintained property is difficult and they cost more coz they are in high demand

    Need genuine advise to break from the search trap that I have been in for 12 months :confused:
     
  11. Corey Batt

    Corey Batt Well-Known Member

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    Leo gave some very sage advice in this thread- if you're wanting to buy a PPOR and want to also hedge your bets against potential poor values/sliding prices in the future - stick to freestanding houses. This is just a function of supply and demand - it's exceptionally easy to release more and more townhouses and apartments, but freestanding houses in established areas only have declining numbers of stock as they're redeveloped. Anyone with the means in the future will be paying a higher and higher premium as the concept of having a backyard becomes seen as a luxury.
     
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  12. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    Oh the irony!
     
  13. Patrick Bateman

    Patrick Bateman Well-Known Member

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    If your price range is $750k and you want a nice area close to UQ look at taringa and indooroopilly. You will be looking at houses in need of a lot of work at that price range however you will find something liveable. Blue chip suburbs so you won't go wrong
     
  14. iloveqld

    iloveqld Well-Known Member

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    And I also want to mention about all ppl crying over buble and rent is better, no judgement but you would not want to be in the same position now or years later.

    Just buy a house within your low budget, specially the first one. Go for land, position and sound structure, not wow factors, and you will be fine.

    Btw, painting the house by yourself is also the common sign of most of successful investors lol
     
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  15. Tenex

    Tenex Well-Known Member

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    Significantly more? I have always been curious as to what people who promote Brisbane base their advise on.

    I actually invested a good amount of time in 2014 / 2015 to see if I can buy a couple of properties in Brisbane but bought in Sydney instead.

    My professional experience in recruitment across Australia tells me that Brisbane currently has unemployment and under-employment and the signs of trouble are just slowly emerging. Just last quarter they reported a 17% office vacancy rates which is much higher even compared to GFC time, and building companies that are folding one after another. 30 building companies just this year alone.

    Other than the gut-feel advise, is there any reliable source of information because all sources of information I have seen point in the direction that you should sell and not buy in Brisbane.
     
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  16. JDP1

    JDP1 Well-Known Member

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    SQM property update, John McGrath reports, rp data etc...
    Also look at rpdata.. The demand yo supply
    In all the areas the op mentioned have higher and stable demand than supply ( and new supply announcements in those areas have largely slowed down). If demand is consistently greater than supply as these areas have shown in the last few years, there is likely only one direction prices will go.
     
  17. Patrick Bateman

    Patrick Bateman Well-Known Member

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    Office vacancies are decreasing in Brisbane as is unemployment and underemployment I attended a presentation by Allan Kohler the other day where he had all the stats/graphs sorry can't remember the exact figures. Plenty of good new projects including queens wharf which will appeal to tourists particularly Chinese which will create even more employment and interstate migration on the rise due to Sydney/Melb being overpriced and employment trending up. All looking good for Brisbane .
     
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  18. TreeChange@50

    TreeChange@50 Well-Known Member

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    I'm not advocating one way or the other but if Labour get back in Cross River Rail is going to be an absolutely huge resource draw also. The ability to get off in the City centre rather than top of Edward, and the Gabba station have the potential along with Queens Wharf to really enliven things too.
     
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  19. Patrick Bateman

    Patrick Bateman Well-Known Member

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    The cycle has in the past involved Sydney becoming unaffordable and people there realising they can sell their house in Sydney and buy one mortgage free in Brisbane and have a better lifestyle , this will see expanding interstate migration which will drive up property prices in Brisbane. We are starting to see this occur now once again.
     
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